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Home / Illinois to Borrow $1.4 Billion to Pay BillsIllinois to Borrow $1.4 Billion to Pay Bills
Last Updated on Monday, 8 December 2008 11:57 Written by rslcpol Friday, 5 December 2008 01:03
The state of Illinois has a $4 billion backlog on bills – on everything from bills related to Medicaid to trash pick up. Ouch and ouch. From Chicago Tribune:
The state wants to borrow up to $1.4 billion to help pay unpaid bills, even as the federal government approved sending more than $775 million a year over the next five years to help care for Medicaid patients.
The short-term borrowing means businesses waiting months to be paid should get at least some of their money soon.
This entry was posted on Friday, December 5th, 2008 at 1:03 pm and is filed under State Legislature News.
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